2023-06-27 02:32:00
BRASILIA, June 26 (Xinhua) — Brazilian financial analysts have upgraded their forecast for GDP expansion in 2023 from 2.14 percent to 2.18 percent, the seventh consecutive weekly improvement, and raised forecasts for 2024 from 1.20% to 1.22%, the Central Bank of Brazil said on Monday.
They lowered inflation forecasts for the year from 5.12% to 5.06%, and for next year from 4% to 3.98%, according to the bank’s weekly Focus survey of consumers. major financial institutions in the country.
Brazil’s inflation target is 3.25% for 2023 and 3% for 2024, with a tolerance band of 1.5 percentage points in both cases.
Market analysts kept the forecast for the benchmark Selic interest rate at 12.25% for this year and 9.50% for next year. The rate is currently 13.75% per annum.
The trade balance is expected to bring the country a surplus of $62 billion in 2023 and $55.61 billion in 2024.
Foreign direct investment in Brazil is expected to reach $79 billion this year and $80 billion next year. END
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